Bank of America Cash Rewards Secured
3% on selected categories · $0 annual fee
The Bank of America Cash Rewards Secured stands out because it earns real category rewards while you build credit: 3% cash back in a category you choose (gas, online shopping, dining, travel, drugstores, or home improvement) and 2% at grocery stores and wholesale clubs, with no annual fee. That flexibility is why it ranks #2 on our Best Secured Credit Cards list as the best pick for customization. The catch is the cap: the 3% and 2% rates share a combined $2,500 in quarterly spending, after which everything earns 1%, and every other purchase earns 1% from the start. The 27.49% APR is steep, so carrying a balance would quickly wipe out the rewards, and foreign transaction fees make it a poor choice abroad. Use it for everyday spending you pay off in full, and treat it as a stepping stone toward an unsecured card.
Earn rates & credits
| Category | Rate |
|---|---|
Choose 1 category 3% in choice category (gas, online shopping, dining, travel, drugstores, home improvement); cap is combined with groceries/wholesale-club row on first $2,500/qtr, then 1% | 3% |
Groceries Grocery stores; cap is combined with the choice category and wholesale clubs on first $2,500/qtr, then 1% | 2% |
Wholesale Clubs Wholesale clubs; cap is combined with choice category and grocery stores on first $2,500/qtr, then 1% | 2% |
Everything Else | 1% |
Card details
Regular APR | 27.49% variable |
Foreign transaction fee | Yes |